Economy
Summary The economy in the Me and Eth study makes up the majority of the group. The economy is managed in the Owen and Ethan economy section group. The economy has many features: Currency, Shops, Banks, Auctions, Tax, Charity, and Stock. Currency The currency of the group is O&E(a.k.a. œ), or Owen and Ethan currency. Currently, there is only one conversion rate, that being 1 USD = 27.5 O&E. Currency may be used to bid at auctions, buy items or services, give away, and more. To earn currency, one could make a shop, start an auction, make a charity, or loan from a bank. Shops Anyone may create a shop in the study. Shops exchange Goods or Services for O&E. When selling, the most common way to deal with orders is by creating an order form. The order forms typically require an input of item, name, and cost, and output the Good or Service and shipping details. One can create only one shop, but may collaborate with another. Banks The purpose of the banks is so that when one does not have enough money, they can borrow from it but must pay back with interest. Anyone is allowed to borrow from or create a bank. The only restriction on borrowing is that one cannot borrow more than the bank owner has. Auctions When one wishes to sell something that only has one in stock, it is recommended to auction it. Auctions have a table in which a bidder enters their name, bid, and date. Auctions have a starting bid that is the minimum for each bidder to bid. A bidder must bid at least 1 O&E more than the previous one. Auctions do not have a set deadline, instead, the owner of the auction decides when the bid is high enough. Auctions can only sell Goods. Taxes Taxes are a system that helps prevent inflation. When paying tax, transfer money directly to the tax collector's bank account. Tax amounts There is no tax for orders less than 2 O&E. Orders from 2 to 25 O&E has 1 O&E tax. In orders from 25 to 75 O&E, there is 3 O&E tax. From 75-200 there is 8 O&E tax. 200-600 O&E transactions has 24 O&E tax. For orders under 25 O&E, there is a tax of 1 O&E. Purpose The purpose of taxes is to prevent inflation. There is currently a petition to ban tax. When a milestone of tax in the tax collector's bank account is reached, an event is held, such as a temporary disabling of tax. Punishment If one does not pay tax, they will have a x3 tax rate for the next five days. If, during this period, one continues to not pay tax, they would have a x10 tax rate for the next 25 days. During this period, if they still do not pay tax, they will be removed from the group. Charity In a charity, one willingly donates to a person, either out of kindness, or due to a reward placed on the charity page. Anyone can make a charity. Currently, there is only one charity. Stock An owner of a shop has the ability to create a stock. If someone has a stock account, they can purchase a stock from another person, and they can choose when to sell it back. The day someone sells back a stock determines the amount of money they will receive. A recommended strategy is to make the sell back prices low, as that is the money the stock creator loses.